City tread carefully in takeover talks

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Manchester City have confirmed they remain in talks with potential buyers which ‘may or may not lead to a bid’ for the club.

In a carefully-worded statement to the Stock Exchange, City failed to confirm they had received an offer from Ray Ranson which, given the strict financial rules that operate within the City of London, can only infer that no formal bid has been made.

However, it is believed Ranson will issue his own statement to the Stock Exchange later today in which he will clarify his position.